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Did Globalization Drive Convergence? Identifying Cross-Country Growth Regimes in the Long Run

Enflo, Kerstin LU and Di Vaio, Gianfranco (2011) In European Economic Review 55(6). p.832-844
Abstract
This paper is the first to apply a finite mixture model to a sample of 64 nations to endogenously analyze the cross-country growth behavior over the period 1870-2003. Results show that growth patterns were segmented in two worldwide regimes, the one characterized by convergence in per capita income, and the other by divergence. Interestingly, when three historical epochs are distinctly analyzed, in order to investigate the empirical link between globalization and convergence, the dynamics which dominated over the whole period seem to have emerged only during the post-1950 years. In contrast, the First Global Wave was marked by persistent heterogeneities.
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Globalization, Economic growth, Income convergence, Mixture models, Multiple regimes
in
European Economic Review
volume
55
issue
6
pages
832 - 844
publisher
Elsevier
external identifiers
  • wos:000293727300006
  • scopus:79960237683
ISSN
1873-572X
DOI
10.1016/j.euroecorev.2010.11.004
language
English
LU publication?
yes
id
7546f1f5-ca89-40fd-bb49-26f902c46f45 (old id 1731234)
date added to LUP
2010-12-06 13:24:24
date last changed
2017-04-16 03:12:23
@article{7546f1f5-ca89-40fd-bb49-26f902c46f45,
  abstract     = {This paper is the first to apply a finite mixture model to a sample of 64 nations to endogenously analyze the cross-country growth behavior over the period 1870-2003. Results show that growth patterns were segmented in two worldwide regimes, the one characterized by convergence in per capita income, and the other by divergence. Interestingly, when three historical epochs are distinctly analyzed, in order to investigate the empirical link between globalization and convergence, the dynamics which dominated over the whole period seem to have emerged only during the post-1950 years. In contrast, the First Global Wave was marked by persistent heterogeneities.},
  author       = {Enflo, Kerstin and Di Vaio, Gianfranco},
  issn         = {1873-572X},
  keyword      = {Globalization,Economic growth,Income convergence,Mixture models,Multiple regimes},
  language     = {eng},
  number       = {6},
  pages        = {832--844},
  publisher    = {Elsevier},
  series       = {European Economic Review},
  title        = {Did Globalization Drive Convergence? Identifying Cross-Country Growth Regimes in the Long Run},
  url          = {http://dx.doi.org/10.1016/j.euroecorev.2010.11.004},
  volume       = {55},
  year         = {2011},
}